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CUPERTINO, Calif. (
Apple(AAPL - Get Report) is on a tear as its stock price has reached
multiple new highs over the past week. While it might make sense to
buy Apple in anticipation of a peak on the
iPad's April 3 launch date, Apple's current price of about $224 isn't exactly cheap.
There are, however, a handful of tech stocks that allow investors to take a bite out of Apple and its phenomenal swell on the cheap. While most of Apple's future-facing products and suppliers are still shrouded in mystery -- Apple didn't respond to
TheStreet's request for comment on this story -- investors are likely to see Apple-related upside in
AT&T(T - Get Report),
Alternatively, investors that want to play Apple in the market but avoid the risks associated with one specific stock might want to consider an
ETF with a position in Apple. Apple accounts for just over 15% of the
PowerShares QQQ Fund(QQQQ), which has risen more than 77% in the last twelve months.
Other funds offer different levels of Apple exposure, from 9% at the
iShares Down Jones U.S Technology(IYW) fund to 3.1% at the
SPDR Morgan Stanley Technology ETF(MTK).
Analysts also point to telcom-related ETFs like the
iShares Dow Jones U.S. Telecom Fund(IYZ), 16.5% of which is made up of AT&T, an Apple iPad partner.
TheStreet's Don Dion has already
cited IYZ as the best ETF to gain exposure to AT&T and iPad demand.
Read on for more Apple-related buys.